Visa Inc. (NYSE:V) – Jefferies Group upped their FY2017 earnings per share (EPS) estimates for shares of Visa in a research report issued to clients and investors on Tuesday. Jefferies Group analyst R. El-Assal now anticipates that the credit-card processor will post earnings of $3.43 per share for the year, up from their previous forecast of $3.42. Jefferies Group currently has a “Buy” rating and a $125.00 target price on the stock. Jefferies Group also issued estimates for Visa’s FY2019 earnings at $4.64 EPS.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business earned $0.69 earnings per share. Visa’s quarterly revenue was up 25.8% compared to the same quarter last year.
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A number of other research analysts have also recently commented on V. Sandler O’Neill reaffirmed a “hold” rating on shares of Visa in a research report on Wednesday, June 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Visa in a research report on Friday, June 23rd. Mizuho started coverage on shares of Visa in a research report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 target price on the stock. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 target price on the stock in a research report on Tuesday, June 27th. Finally, BidaskClub cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $110.95.
Shares of Visa (NYSE:V) opened at 107.54 on Wednesday. The stock has a 50 day moving average of $105.24 and a 200 day moving average of $97.71. Visa has a 52 week low of $75.17 and a 52 week high of $109.26. The stock has a market cap of $245.88 billion, a P/E ratio of 39.99 and a beta of 0.93.
A number of large investors have recently added to or reduced their stakes in V. Vanguard Group Inc. increased its position in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after buying an additional 2,628,148 shares in the last quarter. BlackRock Inc. increased its position in shares of Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after buying an additional 1,440,034 shares in the last quarter. State Street Corp increased its position in shares of Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after buying an additional 73,926 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after buying an additional 452,183 shares in the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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